SHANGHAI, May 12, 2023
/PRNewswire/ -- Zhongchao Inc. (NASDAQ: ZCMD) ("Zhongchao" or
the "Company"), a platform-based internet technology company
offering services for patients with cancer and other major
diseases, today announced that Beijing Zhongchao Boya Medical
Technology Co., Ltd. ("Boya Medical"), one of the Chinese operating
entities of which the Company consolidates the financial results
with through certain contractual arrangements, has signed a
strategic cooperation agreement with Shanghai Ximalaya Technology
Co., Ltd. ("Ximalaya"), a widely popular Chinese online audio
sharing platform in China. Over
the next three years, both parties will work together towards the
common vision of "serving a better life through health
communications." The cooperation will focus on health knowledge
popularization, disease prevention advocacy, and behavioral
intervention, gradually improving public health literacy.
Pursuant to the cooperation agreement, both parties will
integrate and leverage their respective strengths to enhance
precision communication in health knowledge popularization. By
leveraging the convenience, instant updates, and personalized
services and features offered by Ximalaya's online subscription
platform, users will receive tailored contents based on their
preferences. Boya Medical, utilizing its accumulated experiences in
medical education, will provide Ximalaya's users with valuable
health and medical information, foster public self-care awareness,
and enhance users' disease prevention and control capabilities. The
collaboration aims to create a healthy, balanced, and vibrant
content ecosystem on Ximalaya's platform. In addition, the
collaboration will explore diversified cooperation in intellectual
property ("IP") incubation of streamers focused on health knowledge
popularization, copyright development, media operations, and brand
co-creations, in order to maximize IP value, and brand value.
Furthermore, both parties will research and develop healthcare and
wellness care cooperation projects to support each other's business
growth.
Zhongchao anticipates that the cooperation with Ximalaya will
improve health care knowledge popularization in China and facilitate communications and
knowledge sharing among doctors. The Chinese public is actively
seeking health information, and people can search online for health
information and online services based on their needs. However, due
to variations in public education levels and excessive information
provided online, obtaining accurate and valuable health information
effectively through new media remains challenging. Such challenges
could impair the effectiveness of health communication and lead to
disparities in health risk-taking among different groups.
Established in 2012, Ximalaya is dedicated to empowering people to
share wisdom and embrace a better life via voice. As of the first
three quarters of 2022, Ximalaya's average monthly active users
across all scenarios reached 282 million (source: Kuaikeji
[https://news.mydrivers.com/1/886/886105.htm]).
Weiguang Yang, Chairman and Chief
Executive Officer of Zhongchao, commented, "The deep integration of
the internet and health services presents vast opportunities and
transcends time and space constraints. We are honored to announce
the signing of a strategic cooperation agreement with Ximalaya,
marking an important step for both parties in advancing 'Internet
+' health services. We have been
deeply involved in medical education for over a decade and have a
professional team dedicated to producing popular healthcare and
medical related content. We offer users practical knowledge of cancer, common chronic
diseases, rare diseases, and health maintenance, addressing medical
and health information popularization needs at various disease
stages. Going forward, we will continue to strengthen our
collaboration with Ximalaya and explore more cooperation
opportunities to further reinforce our commitment to improving
public health literacy."
About Zhongchao Inc.
Zhongchao Inc. is an offshore holding company incorporated in
the Cayman Islands. It
consolidates the financial results of a variable interest entity,
Zhongchao Medical Technology (Shanghai) Limited, and its subsidiaries (the
"PRC operating entities") through a series of contractual
arrangements. Zhongchao Inc. is a platform-based internet
technology company offering services to patients with oncology and
other major diseases. The PRC operating entities provide online
healthcare information, professional training and educational
services to healthcare professionals under their "MDMOOC" platform
(www.mdmooc.org), offer patient management services in the
professional field of tumor and rare diseases through Zhongxin,
offer internet healthcare services through Zhixun Internet
Hospital, and pharmaceutical services through Xinjiang Medical and
operate an online information platform, Sunshine Health Forums, to
general public. More information about the Company can be found at
its investor relations website at http://izcmd.com.
Safe Harbor Statement
This press release contains forward-looking statements as
defined by the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include statements concerning plans,
objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements that are other than
statements of historical facts. When the Company uses words such as
"may," "will," "intend," "should," "believe," "expect,"
"anticipate," "project," "estimate" or similar expressions that do
not relate solely to historical matters, it is making
forward-looking statements. Forward-looking statements are not
guarantees of future performance and involve risks and
uncertainties that may cause the actual results to differ
materially from the Company's expectations discussed in the
forward-looking statements. These statements are subject to
uncertainties and risks including, but not limited to, the
following: the Company's goals and strategies; the Company's future
business development; product and service demand and acceptance;
changes in technology; economic conditions; the growth of the
professional training and educational services market in
China and the other international
markets the Company plans to serve; reputation and brand; the
impact of competition and pricing; government regulations;
fluctuations in general economic and business conditions in
China and the international
markets the Company plans to serve and assumptions underlying or
related to any of the foregoing and other risks contained in
reports filed by the Company with the SEC, the length and severity
of the recent coronavirus outbreak, including its impacts across
our business and operations. For these reasons, among others,
investors are cautioned not to place undue reliance upon any
forward-looking statements in this press release. Additional
factors are discussed in the Company's filings with the SEC, which
are available for review at www.sec.gov. The Company undertakes no
obligation to publicly revise these forward–looking statements to
reflect events or circumstances that arise after the date
hereof.
For more information, please contact:
At the Company: Pei Xu, CFO
Email: xupei@mdmooc.org
Phone: +86 13901629242
Investor Relations: Sherry Zheng
Weitian Group LLC
Email: shunyu.zheng@weitian-ir.com
Phone: +1 718-213-7386
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SOURCE Zhongchao Inc.